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State and Local Investment Ban in Chinese Entities.

This act encourages state and local governments to divest from companies with ties to China, especially those linked to military or national security. This ensures public funds, including pension funds, do not support entities deemed risky. It provides clear guidelines for public fund managers, allowing them to safely withdraw from such investments.
Key points
State and local governments can divest public funds (including pension funds) from companies investing in China, particularly those linked to military or security.
The act protects pension fund managers, allowing them to divest from Chinese entities without breaching duties, provided it doesn't lower returns or increase risk.
It mandates notifying companies about planned divestment and offers an appeal process to prevent erroneous targeting.
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Expired
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Additional Information
Print number: 118_HR_6528
Sponsor: Rep. Johnson, Dusty [R-SD-At Large]
Process start date: 2023-11-30
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Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

PRC Accountability and Divestment Act of 2023

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_6528.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2023-11-30.

What are the main provisions?

Key points include:

  • State and local governments can divest public funds (including pension funds) from companies investing in China, particularly those linked to military or security.
  • The act protects pension fund managers, allowing them to divest from Chinese entities without breaching duties, provided it doesn't lower returns or increase risk.
  • It mandates notifying companies about planned divestment and offers an appeal process to prevent erroneous targeting.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Johnson, Dusty [R-SD-At Large].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Financial Services.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-25.

CATEGORIES

Public Investments Economy Security